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You can find the current article at its original source at http://www.theguardian.com/australia-news/live/2015/oct/20/turnbull-to-unveil-new-banking-regulations-politics-live

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Version 15 Version 16
Malcolm Turnbull predicts marriage equality plebiscite will pass – politics live Malcolm Turnbull predicts marriage equality plebiscite will pass – politics live
(35 minutes later)
7.06am BST07:06
Another new opinion poll this afternoon – Essential. Unlike the Ipsos poll earlier this week, which put the Coalition with a commanding lead, Essential’s two-party-preferred number is Coalition 51%, Labor 49%. This data in this particular poll is based on two-week averages, so we’d expect it to be slower to record a surge by either party, but today’s figure is more in line with last week’s Newspoll, which had the major parties in a dead heat at 50-50. Anyway, there’s little point in second-guessing anything much at this point, there’s nothing to do but wait and see how the trend plays out for Turnbull in the coming weeks and months.
A couple of interesting questions.
Q. Do you approve or disapprove of the way the prime minister Malcolm Turnbull is handling the threat of terrorism in Australia?
(Who’d have thunk it, eh? Turn down the volume to a reasonable level, look to approach the national security issue constructively and inclusively, and voters have more confidence in the strategy.)
Q. Under new national security laws phone and internet records of all Australians will be held for two years. How much trust do you have in the following organisations to store your personal data safely and in a way that would prevent abuse?
Q. Which of the following statements is closest to your view?
Updated at 7.15am BST
6.44am BST06:446.44am BST06:44
A couple more Bowers pictures that I have not yet had time to use.A couple more Bowers pictures that I have not yet had time to use.
Health minister Sussan Ley, working on her bone density.Health minister Sussan Ley, working on her bone density.
And Nick Xenophon doing what he does better than most occupants of this building: getting on the TV news. He is a grab dropping genius. And Nick Xenophon doing what he does better than most occupants of this building: getting on the TV news. He is a grab-dropping genius.
Updated at 7.17am BST
6.33am BST06:336.33am BST06:33
Back to the Murray response. It’s treasurer Scott Morrison’s turn in the Sky studio.Back to the Murray response. It’s treasurer Scott Morrison’s turn in the Sky studio.
Q: Will interest rates go up as a consequence of the new bank capitalisation requirements?Q: Will interest rates go up as a consequence of the new bank capitalisation requirements?
Morrison:Morrison:
That’s a commercial decision for the banks at the end of the day.That’s a commercial decision for the banks at the end of the day.
Morrison says big banks to tend to pass on increased costs to their customers, unlike small businesses, who absorb increases in their operating costs. Morrison says big banks to tend to pass on increased costs to their customers, unlike small businesses, which absorb increases in their operating costs.
Q: Do they have a reason to blame you for this?Q: Do they have a reason to blame you for this?
No they don’t.No they don’t.
We are on credit card surcharges now. Morrison makes a big call.We are on credit card surcharges now. Morrison makes a big call.
We are banning profiteering on these fees.We are banning profiteering on these fees.
Sorry. Not really, no.Sorry. Not really, no.
This is from today’s statement on the Murray response.This is from today’s statement on the Murray response.
“Banning profiteering” isn’t this.“Banning profiteering” isn’t this.
Updated at 7.18am BST
6.10am BST06:106.10am BST06:10
Manager of opposition business Tony Burke has issued a statement about the proposed changes to question time procedure – the government’s plan to turn over more questions to the backbench on constituency matters.Manager of opposition business Tony Burke has issued a statement about the proposed changes to question time procedure – the government’s plan to turn over more questions to the backbench on constituency matters.
Tony Burke:Tony Burke:
This is just more talk from Malcolm Turnbull. Government MPs can already ask ministers questions about their electorates both in question time and in writing. While the detail around today’s announcement is scant, it appears all it will do is change how the government plans to ask questions to itself. If this results in fewer theatrical performances from ministers reading scripted attacks, noone would objet to this. This is just a change to the government’s tactics, not a change to any rules.This is just more talk from Malcolm Turnbull. Government MPs can already ask ministers questions about their electorates both in question time and in writing. While the detail around today’s announcement is scant, it appears all it will do is change how the government plans to ask questions to itself. If this results in fewer theatrical performances from ministers reading scripted attacks, noone would objet to this. This is just a change to the government’s tactics, not a change to any rules.
If the government decides to take one step further and change the standing orders to dictate questions the opposition can ask, this would be fiercely resisted. We must not see a decrease in transparency and Labor will be following this closely.If the government decides to take one step further and change the standing orders to dictate questions the opposition can ask, this would be fiercely resisted. We must not see a decrease in transparency and Labor will be following this closely.
Updated at 6.10am BSTUpdated at 6.10am BST
5.54am BST05:545.54am BST05:54
Powering forth, the architect of the Murray report, David Murray, is being interviewed by Sky News on the events of the day. Murray is asked whether the banks have any excuse to put up interest rates in the wake of the new capital ratio requirements. He steps quite carefully around that question, avoiding a straight answer.Powering forth, the architect of the Murray report, David Murray, is being interviewed by Sky News on the events of the day. Murray is asked whether the banks have any excuse to put up interest rates in the wake of the new capital ratio requirements. He steps quite carefully around that question, avoiding a straight answer.
Murray is asked how the government can actually bring down credit card surcharges. He says charging a surcharge above cost is not appropriate, but as to the specifics –Murray is asked how the government can actually bring down credit card surcharges. He says charging a surcharge above cost is not appropriate, but as to the specifics –
That’s up to the payments system board to enforce.That’s up to the payments system board to enforce.
How easy will it be to introduce more competition in the superannuation sector? Murray says default funds have been opened up elsewhere and when that happens there’s a decrease in costs.How easy will it be to introduce more competition in the superannuation sector? Murray says default funds have been opened up elsewhere and when that happens there’s a decrease in costs.
5.45am BST05:455.45am BST05:45
Malsplaining™, a sequence.Malsplaining™, a sequence.
Updated at 7.20am BST
5.38am BST05:385.38am BST05:38
Just a slight delay in picture transmission today. My system has had some gremlins. Before we side stroke on, here’s a selection of Mike Bowers fabulousness from the chamber today.Just a slight delay in picture transmission today. My system has had some gremlins. Before we side stroke on, here’s a selection of Mike Bowers fabulousness from the chamber today.
Updated at 7.22am BST
5.12am BST05:125.12am BST05:12
Further questions have been placed on the notice paper. I’ll survey the world outside the chamber briefly and be back to deliver Tuesday afternoon.Further questions have been placed on the notice paper. I’ll survey the world outside the chamber briefly and be back to deliver Tuesday afternoon.
5.05am BST05:055.05am BST05:05
Cheer up Joe, today is either your last or second last question time. Cheer up Joe, today is either your last or second-last question time.
Kevin Andrews is not decamping, but he has John Howard’s Chesterfield.Kevin Andrews is not decamping, but he has John Howard’s Chesterfield.
Updated at 5.26am BST Updated at 7.22am BST
4.59am BST04:594.59am BST04:59
Bowen is back to the dispatch box.Bowen is back to the dispatch box.
Q: Can the treasurer confirm that next financial year, gross debt is forecast is to be $100bn higher than when the Liberal government was elected?Q: Can the treasurer confirm that next financial year, gross debt is forecast is to be $100bn higher than when the Liberal government was elected?
A short barrage of numbers from Morrison followed by the nub point: it’s higher.A short barrage of numbers from Morrison followed by the nub point: it’s higher.
Then, the treasurer says, it will fall.Then, the treasurer says, it will fall.
I will tell you why it will fall. The reason it will fall is because this government has a program to ensure we get control of expenditure and expenditure as a percentage of GDP will decline over the forward estimates because we have a plan to control expenditure.I will tell you why it will fall. The reason it will fall is because this government has a program to ensure we get control of expenditure and expenditure as a percentage of GDP will decline over the forward estimates because we have a plan to control expenditure.
What goes up, must come ..What goes up, must come ..
4.54am BST04:544.54am BST04:54
Shadow treasurer Chris Bowen, to treasurer Scott Morrison.Shadow treasurer Chris Bowen, to treasurer Scott Morrison.
Q: My question is to the treasurer. When does the prime minister project the budget will return to surplus?Q: My question is to the treasurer. When does the prime minister project the budget will return to surplus?
Scott Morrison:Scott Morrison:
When expenditure is less than revenue.When expenditure is less than revenue.
(Pay that.)(Pay that.)
4.52am BST04:524.52am BST04:52
A fair dose of the Malsplain in this particular session. Delightful in its expansive fashion. A person, talking in sentences. Like a nice breeze. But might wear just a teensy bit thin.A fair dose of the Malsplain in this particular session. Delightful in its expansive fashion. A person, talking in sentences. Like a nice breeze. But might wear just a teensy bit thin.
4.48am BST04:484.48am BST04:48
Labor has moved to marriage equality.Labor has moved to marriage equality.
Q: Given the prime minister has said he doesn’t want marriage equality to be a live issue all the way up to the next election, will the prime minister allow a free vote on the co sponsored private member’s bill currently before the parliament?Q: Given the prime minister has said he doesn’t want marriage equality to be a live issue all the way up to the next election, will the prime minister allow a free vote on the co sponsored private member’s bill currently before the parliament?
Turnbull thinks he might take a trip down memory lane. Where were you in 1999 Terri Butler? I was leading the republican debate.Turnbull thinks he might take a trip down memory lane. Where were you in 1999 Terri Butler? I was leading the republican debate.
On the marriage equality plebiscite.On the marriage equality plebiscite.
Yes, it will take more time. Yes, it will cost more money. Yes, in my view it will be carried – but time will tell.Yes, it will take more time. Yes, it will cost more money. Yes, in my view it will be carried – but time will tell.
4.44am BST04:444.44am BST04:44
Turnbull is asked about his disposition towards a bill in the senate which revisits the debate indulged by the Abbott government about changes to hate speech. The debate around changes to the Racial Discrimination Act is a reasonable one, but that bill isn’t going anywhere, the prime minister says.Turnbull is asked about his disposition towards a bill in the senate which revisits the debate indulged by the Abbott government about changes to hate speech. The debate around changes to the Racial Discrimination Act is a reasonable one, but that bill isn’t going anywhere, the prime minister says.
There is a bill in the senate, it has not been considered by the government. I can say that the government does not have any plans to reopen this matter. I imagine it will be a matter of lively discussion in the future.There is a bill in the senate, it has not been considered by the government. I can say that the government does not have any plans to reopen this matter. I imagine it will be a matter of lively discussion in the future.
This was considered some time ago but it is ... I think it’s very important for debates of this kind to be undertaken at the right time and place and in the right context.This was considered some time ago but it is ... I think it’s very important for debates of this kind to be undertaken at the right time and place and in the right context.
We have to bear in mind, and the honourable member would well understand this I’ve got no doubt.We have to bear in mind, and the honourable member would well understand this I’ve got no doubt.
We have to bear in mind that we have in our society, as in all free societies, to balance the demands of free speech, which we are all in favour, with also ensuring domestic harmony.We have to bear in mind that we have in our society, as in all free societies, to balance the demands of free speech, which we are all in favour, with also ensuring domestic harmony.
It is an important debate in a free society that we should have about the limits of speech and the way in which we can best ensure that we preserve social harmony – that we preserve security and at the same time ensure that there is free speech.It is an important debate in a free society that we should have about the limits of speech and the way in which we can best ensure that we preserve social harmony – that we preserve security and at the same time ensure that there is free speech.
4.38am BST04:384.38am BST04:38
Labor now inquiries why the government is backing off its proposed changes to family tax benefits. Turnbull tells the opposition you can’t have this both ways: attack the proposal and then attack the backdown.Labor now inquiries why the government is backing off its proposed changes to family tax benefits. Turnbull tells the opposition you can’t have this both ways: attack the proposal and then attack the backdown.
The prime minister.The prime minister.
Instead of actually welcoming (the shift), she (shadow families minister Jenny Macklin) stands up in the parliament and wants to attack the government.Instead of actually welcoming (the shift), she (shadow families minister Jenny Macklin) stands up in the parliament and wants to attack the government.
4.31am BST04:314.31am BST04:31
Speaking of northern Australia, independent MP Bob Katter has an incomprehensible question for Josh Frydenberg, the minister for norther Australia.Speaking of northern Australia, independent MP Bob Katter has an incomprehensible question for Josh Frydenberg, the minister for norther Australia.
Apparently Katter doesn’t care for Frydenberg’s answer. He departs the chamber. Frydenberg loses it, laughing. The chamber joins him.Apparently Katter doesn’t care for Frydenberg’s answer. He departs the chamber. Frydenberg loses it, laughing. The chamber joins him.
4.27am BST04:274.27am BST04:27
We don't support government banks .. errr ..We don't support government banks .. errr ..
Labor, persisting.Labor, persisting.
Q: My question is to the prime minister. Does the prime minister agree that the clean energy finance corporation established by Labor has successfully driven investments in clean energy technology and is helping to cut emissions intensity in our economy? Does the prime minister accept that the Clean Energy Finance Corporation has a crucial role to play in Australia’s efforts to tackle climate change?Q: My question is to the prime minister. Does the prime minister agree that the clean energy finance corporation established by Labor has successfully driven investments in clean energy technology and is helping to cut emissions intensity in our economy? Does the prime minister accept that the Clean Energy Finance Corporation has a crucial role to play in Australia’s efforts to tackle climate change?
Turnbull says it is the government’s policy to scrap the CEFC. Thus far, the parliament has not allowed that to happen.Turnbull says it is the government’s policy to scrap the CEFC. Thus far, the parliament has not allowed that to happen.
The prime minister:The prime minister:
It is a fair question ... to ask whether it is necessary as an institution and indeed it was the government’s policy to abolish it because we do not support – we do not support government banks.It is a fair question ... to ask whether it is necessary as an institution and indeed it was the government’s policy to abolish it because we do not support – we do not support government banks.
(Well, apart the investment fund for northern Australia, set up by the government, which looks a whole lot like the CEFC. Turnbull is astride the barbed wire fence on this question.)(Well, apart the investment fund for northern Australia, set up by the government, which looks a whole lot like the CEFC. Turnbull is astride the barbed wire fence on this question.)
Turnbull says the CEFC is playing a part in reducing emissions.Turnbull says the CEFC is playing a part in reducing emissions.
It plays a part. It is certainly making a contribution. But the reduction of emissions across the board is contributed to by many things.It plays a part. It is certainly making a contribution. But the reduction of emissions across the board is contributed to by many things.
4.20am BST04:204.20am BST04:20
The treasurer Scott Morrison is up now on the Murray response. He doesn’t think people should be shackled by superannuation deals. Deals of the Labor sort.The treasurer Scott Morrison is up now on the Murray response. He doesn’t think people should be shackled by superannuation deals. Deals of the Labor sort.
4.17am BST04:174.17am BST04:17
Labor is sticking with climate.Labor is sticking with climate.
Q: The prime minister stated earlier in question time today that the only thing that matters in climate change policy is is it going to cut emissions. In March, the department of environment found that by 2020 emissions will be 20% higher than they were at the time this Liberal government was elected. So why is the PM sticking with the discredited direct action policy?Q: The prime minister stated earlier in question time today that the only thing that matters in climate change policy is is it going to cut emissions. In March, the department of environment found that by 2020 emissions will be 20% higher than they were at the time this Liberal government was elected. So why is the PM sticking with the discredited direct action policy?
The prime minister rejects the premise of the question, and says the environment minister Greg Hunt will provide particulars.The prime minister rejects the premise of the question, and says the environment minister Greg Hunt will provide particulars.
There is some laughter, but Hunt sails to the dispatch box.There is some laughter, but Hunt sails to the dispatch box.
The department of the environment recently released figures which showed that Australia’s latest quarterly emissions were the lowest since 2004, not just in trend but also in seasonal terms. So, let me repeat that – the lowest emissions since 2004 in both trend and seasonal terms.The department of the environment recently released figures which showed that Australia’s latest quarterly emissions were the lowest since 2004, not just in trend but also in seasonal terms. So, let me repeat that – the lowest emissions since 2004 in both trend and seasonal terms.
Labor’s Mark Butler seeks to table the departmental material. He’s waved away.Labor’s Mark Butler seeks to table the departmental material. He’s waved away.
4.13am BST04:134.13am BST04:13
Labor opens on the theme of Malcolm Turnbull talking big but delivering little.Labor opens on the theme of Malcolm Turnbull talking big but delivering little.
Q: The prime minister stated in 2009 ‘I will not lead a party that is not as committed to effective action on climate change as I am.’ But this week it’s been confirmed that not one company will be required to reduce its pollution levels under the Liberals’ direct action plan. Why is the prime minister sticking with such an ineffectively policy to tackle climate change?Q: The prime minister stated in 2009 ‘I will not lead a party that is not as committed to effective action on climate change as I am.’ But this week it’s been confirmed that not one company will be required to reduce its pollution levels under the Liberals’ direct action plan. Why is the prime minister sticking with such an ineffectively policy to tackle climate change?
Malcolm Turnbull says Labor has one objection.Malcolm Turnbull says Labor has one objection.
Now, what the honourable member objects to is that the government does not have as one of its measures an emissions trading scheme. And that is true. We do not. It was repealed. It used to be Coalition policy. It is not anymore.Now, what the honourable member objects to is that the government does not have as one of its measures an emissions trading scheme. And that is true. We do not. It was repealed. It used to be Coalition policy. It is not anymore.
But the point is, as I have said many times in the past, and am happy to say again, an emissions trading scheme is no more than one mechanicism to reduce emissions.But the point is, as I have said many times in the past, and am happy to say again, an emissions trading scheme is no more than one mechanicism to reduce emissions.
It is a means to an ends, not the solution.It is a means to an ends, not the solution.
Now, the fact is that emissions trading schemes have worked better in theory than in practice in the - over the last six or seven years. That is undoubtedly correct.Now, the fact is that emissions trading schemes have worked better in theory than in practice in the - over the last six or seven years. That is undoubtedly correct.
The mechanisms we have in place which the environment minister has carefully assembled and carefully explained in this chamber will result in Australia meeting the commitments we are taking to Paris – a 26 to 28% cut in emissions.The mechanisms we have in place which the environment minister has carefully assembled and carefully explained in this chamber will result in Australia meeting the commitments we are taking to Paris – a 26 to 28% cut in emissions.
We will meet those targets, we will meet them with the measures we have. We will review our measures in 2017 and, if they need adjustment, then we will adjust them.We will meet those targets, we will meet them with the measures we have. We will review our measures in 2017 and, if they need adjustment, then we will adjust them.
But our commitment to those targets is absolute and honourable members opposite should get used to the fact that we are committed to cutting emissions.But our commitment to those targets is absolute and honourable members opposite should get used to the fact that we are committed to cutting emissions.
4.06am BST04:064.06am BST04:06
Cometh the hour, cometh the bloggerCometh the hour, cometh the blogger
It being 2pm ..It being 2pm ..
The prime minister on indulgence makes a statement about the government’s proposed changes to question time.The prime minister on indulgence makes a statement about the government’s proposed changes to question time.
Malcolm Turnbull:Malcolm Turnbull:
Honourable members will understand that the object of question time should be to ensure that local members – members – are able to raise matters of concern to their local electorates.Honourable members will understand that the object of question time should be to ensure that local members – members – are able to raise matters of concern to their local electorates.
Turnbull notes if Labor members don’t approve they can continue to do whatever they like, they can continue asking questions written for them by the leader of the opposition’s staff, they can continue doing that.Turnbull notes if Labor members don’t approve they can continue to do whatever they like, they can continue asking questions written for them by the leader of the opposition’s staff, they can continue doing that.
It is entirely up to the opposition whether they want to give their backbenchers a say or not.It is entirely up to the opposition whether they want to give their backbenchers a say or not.
Labor quite grumpy down there.Labor quite grumpy down there.
3.49am BST03:493.49am BST03:49
Politics el deskoPolitics el desko
Question time is closing in at great speed so just a quick summary today. Politics, this Tuesday lunchtime.Question time is closing in at great speed so just a quick summary today. Politics, this Tuesday lunchtime.
Don’t leave your chair.Don’t leave your chair.
Much more to come.Much more to come.
3.31am BST03:313.31am BST03:31
A big deal, that Canadian result. Obviously sent Kevin Rudd into a flat swoon.A big deal, that Canadian result. Obviously sent Kevin Rudd into a flat swoon.
A happy photographer at the Summer Palace in Beijing. K pic.twitter.com/x0R5vJzFhzA happy photographer at the Summer Palace in Beijing. K pic.twitter.com/x0R5vJzFhz
Someone send the smelling salts.Someone send the smelling salts.
3.28am BST03:283.28am BST03:28
The only remaining question in Canada appears to be whether or not Justin Trudeau can govern in his own right. I’ll keep you posted.The only remaining question in Canada appears to be whether or not Justin Trudeau can govern in his own right. I’ll keep you posted.
3.24am BST03:243.24am BST03:24
Just by the by. Looks like significant change is afoot in Canada – our live blog is telling me Stephen Harper looks to be going out the back door.Just by the by. Looks like significant change is afoot in Canada – our live blog is telling me Stephen Harper looks to be going out the back door.
3.19am BST03:193.19am BST03:19
Assistant treasurer Kelly O’Dwyer is being interviewed on the ABC about the Murray inquiry. Losers? Perish the thought!Assistant treasurer Kelly O’Dwyer is being interviewed on the ABC about the Murray inquiry. Losers? Perish the thought!
Q: Looking at the funds in the market, who might stand most to lose? Is it the industry super funds typically aligned with unions?Q: Looking at the funds in the market, who might stand most to lose? Is it the industry super funds typically aligned with unions?
Kelly O’Dwyer:Kelly O’Dwyer:
I think the better question here is who has to gain? At the end of the day, the individual whose money it is, whose money is being saved for their retirement, stands to benefit because they will be able to make the choice about what is going to be best for them in retirement.I think the better question here is who has to gain? At the end of the day, the individual whose money it is, whose money is being saved for their retirement, stands to benefit because they will be able to make the choice about what is going to be best for them in retirement.
So it’s all about who wins, not who loses.So it’s all about who wins, not who loses.
3.02am BST03:023.02am BST03:02
My colleague Lenore Taylor is back from the Coalition joint party room debrief. There was a farewell of sorts for Joe Hockey, who will bow out of politics tomorrow.My colleague Lenore Taylor is back from the Coalition joint party room debrief. There was a farewell of sorts for Joe Hockey, who will bow out of politics tomorrow.
Hockey apparently told colleagues the following: it was important to leave parliament with dignity, he wanted the Turnbull government to be the best in Australian history, but the revolving door had to stop.Hockey apparently told colleagues the following: it was important to leave parliament with dignity, he wanted the Turnbull government to be the best in Australian history, but the revolving door had to stop.
His former boss, Tony Abbott, paid tribute. Hockey had triumphed at the G20, and he’d produced budgets too brave for this parliament. Abbott also apparently referenced Teddy Roosevelt. We assume this was the reference in question.His former boss, Tony Abbott, paid tribute. Hockey had triumphed at the G20, and he’d produced budgets too brave for this parliament. Abbott also apparently referenced Teddy Roosevelt. We assume this was the reference in question.
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
2.55am BST02:552.55am BST02:55
Revolution – constituency question time!Revolution – constituency question time!
A statement just now from the manager of government business Christopher Pyne and the prime minister Malcolm Turnbull.A statement just now from the manager of government business Christopher Pyne and the prime minister Malcolm Turnbull.
The Australian House of Representatives will trial a new constituency question time that will give members an opportunity to ask specific questions relating to their electorates and the matters raised with them by their constituents.The Australian House of Representatives will trial a new constituency question time that will give members an opportunity to ask specific questions relating to their electorates and the matters raised with them by their constituents.
From the next sitting week until the end of the year the government will trial ‘Constituency Question Time’ to run every sitting day as part of Questions Without Notice.From the next sitting week until the end of the year the government will trial ‘Constituency Question Time’ to run every sitting day as part of Questions Without Notice.
Prime minister Malcolm Turnbull MP said the change to the running of question time will present greater opportunities for government MPs, and if they choose opposition MPs, to bring local issues in their electorate to the attention of relevant ministers.Prime minister Malcolm Turnbull MP said the change to the running of question time will present greater opportunities for government MPs, and if they choose opposition MPs, to bring local issues in their electorate to the attention of relevant ministers.
“Representing their community is the first priority of every MP, regardless of which side of the House they sit on,” Turnbull said. This change to question time was originally proposed by the Leader of the House, the Hon Christopher Pyne MP, in a speech to the Institute of Public Affairs at the beginning of 2013.“Representing their community is the first priority of every MP, regardless of which side of the House they sit on,” Turnbull said. This change to question time was originally proposed by the Leader of the House, the Hon Christopher Pyne MP, in a speech to the Institute of Public Affairs at the beginning of 2013.
“Local issues are the bread and butter of every member’s job and the genuine concerns of constituents deserve to feature prominently in the parliament,” Mr Pyne said.“Local issues are the bread and butter of every member’s job and the genuine concerns of constituents deserve to feature prominently in the parliament,” Mr Pyne said.
This will typically involve approximately 5 questions from government members to relevant ministers each day.This will typically involve approximately 5 questions from government members to relevant ministers each day.
Updated at 3.05am BSTUpdated at 3.05am BST
2.46am BST02:462.46am BST02:46
In another venue the ALP is responding to the government’s announcements on the Murray review earlier today.In another venue the ALP is responding to the government’s announcements on the Murray review earlier today.
The shadow treasurer Chris Bowen is attempting to extend an olive branch.The shadow treasurer Chris Bowen is attempting to extend an olive branch.
Sort of.Sort of.
I say this to treasurer Morrison and the government. We’ve consistently said this would be best done in a bipartisan basis. If the government seeks to play wedge politics on an objective for our superannuation system that would be a most unfortunate approach. If the government chooses to seek bipartisan agreement around a superannuation objective, we would engage in that process and see if it is possible.I say this to treasurer Morrison and the government. We’ve consistently said this would be best done in a bipartisan basis. If the government seeks to play wedge politics on an objective for our superannuation system that would be a most unfortunate approach. If the government chooses to seek bipartisan agreement around a superannuation objective, we would engage in that process and see if it is possible.
Jim Chalmers, shadow minister for financial services and superannuation.Jim Chalmers, shadow minister for financial services and superannuation.
There is lots of common ground as Chris was saying in his introduction, but there are a couple of areas where there is not yet unanimous agreement as well. I think superannuation is one of those areas where the government’s approach is not the same as the opposition’s approach.There is lots of common ground as Chris was saying in his introduction, but there are a couple of areas where there is not yet unanimous agreement as well. I think superannuation is one of those areas where the government’s approach is not the same as the opposition’s approach.
Again, the superannuation sector is crucial to the health of our economy. There’s more than $2 trillion under management, that’s 10% bigger this year than the year before. There’s a lot at stake when it comes to superannuation.Again, the superannuation sector is crucial to the health of our economy. There’s more than $2 trillion under management, that’s 10% bigger this year than the year before. There’s a lot at stake when it comes to superannuation.
Super is the hope of the side when it comes to boosting living standards in this country, taking pressure off the pension and creating those deeper pools of capital in our economy as well.Super is the hope of the side when it comes to boosting living standards in this country, taking pressure off the pension and creating those deeper pools of capital in our economy as well.
It is pleasing to see as Chris said they’re up for a conversation about enshrining the purpose of superannuation in our economic arrangements, because from that then flows a series of other decisions about adequacy and tax concessions and all kinds of important issues in the superannuation system.It is pleasing to see as Chris said they’re up for a conversation about enshrining the purpose of superannuation in our economic arrangements, because from that then flows a series of other decisions about adequacy and tax concessions and all kinds of important issues in the superannuation system.
Beyond that agreement over enshrining the objective of super, there are some areas of disagreement, not just in this report but more broadly.Beyond that agreement over enshrining the objective of super, there are some areas of disagreement, not just in this report but more broadly.
Bottom line? Labor will cop some but not all of this.Bottom line? Labor will cop some but not all of this.
2.37am BST02:372.37am BST02:37
Q: Minister Dutton can I ask about the ‘Abyan’ case? Will the government consider what Gillian Triggs has proposed, an arbiter. There’s been reports that the woman doesn’t want to go to Australia for a termination, but would consider going to another country?Q: Minister Dutton can I ask about the ‘Abyan’ case? Will the government consider what Gillian Triggs has proposed, an arbiter. There’s been reports that the woman doesn’t want to go to Australia for a termination, but would consider going to another country?
Peter Dutton:Peter Dutton:
I provided an update to the parliament yesterday and I stated there what the government’s position was. That was to provide support to the individual and that support was provided not only on Nauru, but also subsequently when she came to Australia.I provided an update to the parliament yesterday and I stated there what the government’s position was. That was to provide support to the individual and that support was provided not only on Nauru, but also subsequently when she came to Australia.
We take the advice of the medical experts and those people running the regional processing centres and receive all of the advice and decisions are then made based on that and that’s the way in which it’ll continue into the future, as well.We take the advice of the medical experts and those people running the regional processing centres and receive all of the advice and decisions are then made based on that and that’s the way in which it’ll continue into the future, as well.
Q: The independent arbiter issue?Q: The independent arbiter issue?
We have a system in place, which provides support in terms of medical needs. There’s a lot of support there and I think people frankly sometimes speak from ignorance in terms of the amount of support that’s being provided to people who are in need.We have a system in place, which provides support in terms of medical needs. There’s a lot of support there and I think people frankly sometimes speak from ignorance in terms of the amount of support that’s being provided to people who are in need.
That system’s operated in the past and that’s how it’ll operate into the future and we don’t propose any changes, because we’re already providing a significant level of support to people to enhance the services provided on Nauru.That system’s operated in the past and that’s how it’ll operate into the future and we don’t propose any changes, because we’re already providing a significant level of support to people to enhance the services provided on Nauru.
Q: Does there need to be independent oversight of what happens in offshore detention centres given the Human Rights Commission is not allowed to go in, given there are restrictions on journalists going in - does there need to be an independent body that can report what’s happening?Q: Does there need to be independent oversight of what happens in offshore detention centres given the Human Rights Commission is not allowed to go in, given there are restrictions on journalists going in - does there need to be an independent body that can report what’s happening?
Just to deal with the facts. There are not restrictions on journalists going in. Journalists can make applications as journalists can to come to our country for a visa. There’s a journalist on Nauru today from Australia.Just to deal with the facts. There are not restrictions on journalists going in. Journalists can make applications as journalists can to come to our country for a visa. There’s a journalist on Nauru today from Australia.
That’s to deal with the premise of your question, the opportunity is there for people to travel and people can make their own judgments.That’s to deal with the premise of your question, the opportunity is there for people to travel and people can make their own judgments.
We have a number of visits including from the Red Cross, from the UNHCR and others who visit detention centres and that regime, that level of oversight has operated for some period of time.We have a number of visits including from the Red Cross, from the UNHCR and others who visit detention centres and that regime, that level of oversight has operated for some period of time.
It’s a different situation as you’d appreciate in Nauru and in Manus, because these are issues are ultimately for the Nauruan government or for the PNG government in the case of Manus.It’s a different situation as you’d appreciate in Nauru and in Manus, because these are issues are ultimately for the Nauruan government or for the PNG government in the case of Manus.
(Peter Dutton’s facts on the lack of restrictions would not clear the fact checkers.)(Peter Dutton’s facts on the lack of restrictions would not clear the fact checkers.)
2.27am BST02:272.27am BST02:27
Immigration minister Peter Dutton and justice minister Michael Keenan are holding a press conference about recent drug seizures. I’m keeping an ear on that and report any development of interest.Immigration minister Peter Dutton and justice minister Michael Keenan are holding a press conference about recent drug seizures. I’m keeping an ear on that and report any development of interest.
Updated at 3.09am BSTUpdated at 3.09am BST
2.22am BST02:222.22am BST02:22
My colleague Daniel Hurst is back from the Labor caucus briefing.My colleague Daniel Hurst is back from the Labor caucus briefing.
1.50am BST01:501.50am BST01:50
Peace in our time in a picture.Peace in our time in a picture.
Penny for her thoughts, really.Penny for her thoughts, really.
Updated at 1.55am BSTUpdated at 1.55am BST
1.46am BST01:461.46am BST01:46
Shalailah MedhoraShalailah Medhora
Matt Canavan has dashed to the next venue. He is asking about same-sex marriage in the legal and constitutional committee, too. His question is pegged on how the Human Rights Commission (currently before the committee) can defend the principle of non-discrimination and at the same time uphold the law in relation to the Marriage Act, which effectively discriminates based on sexual orientation by preventing same-sex couples from marrying.Matt Canavan has dashed to the next venue. He is asking about same-sex marriage in the legal and constitutional committee, too. His question is pegged on how the Human Rights Commission (currently before the committee) can defend the principle of non-discrimination and at the same time uphold the law in relation to the Marriage Act, which effectively discriminates based on sexual orientation by preventing same-sex couples from marrying.
Community views on marriage have changed, and so should the law, the president of the commission, Gillian Triggs, answers.Community views on marriage have changed, and so should the law, the president of the commission, Gillian Triggs, answers.
The debate then turns to how someone would define human rights, with the attorney general contending that being opposed to same-sex marriage and supportive of human rights are not mutually exclusive concepts.The debate then turns to how someone would define human rights, with the attorney general contending that being opposed to same-sex marriage and supportive of human rights are not mutually exclusive concepts.
Freedom commissioner, Tim Wilson, takes Canavan to task for referring to a person’s sexuality as a “choice”.Freedom commissioner, Tim Wilson, takes Canavan to task for referring to a person’s sexuality as a “choice”.
1.32am BST01:321.32am BST01:32
Equality, the vibe, whatevsEquality, the vibe, whatevs
In another committee, the LNP senator Matt Canavan is taking the SBS chief Michael Ebeid to task about campaigning in favour of marriage equality. This critique appears to relate to a corporate decision by SBS to oppose all forms of discrimination. A corporate decision, not an editorial one.In another committee, the LNP senator Matt Canavan is taking the SBS chief Michael Ebeid to task about campaigning in favour of marriage equality. This critique appears to relate to a corporate decision by SBS to oppose all forms of discrimination. A corporate decision, not an editorial one.
Canavan thinks this is an abuse of Ebeid’s position. Ebeid, naturally enough, begs to differ.Canavan thinks this is an abuse of Ebeid’s position. Ebeid, naturally enough, begs to differ.
Michael Ebeid:Michael Ebeid:
It’s about equality.It’s about equality.
Matt Canavan:Matt Canavan:
The vibe?The vibe?
Michael Ebeid:Michael Ebeid:
No, it’s about equality.No, it’s about equality.
Liberal senator Chris Back would like to know what SBS will do to ensure balanced coverage during the plebiscite which will be held to settle the definition of marriage if Malcolm Turnbull wins the next election.Liberal senator Chris Back would like to know what SBS will do to ensure balanced coverage during the plebiscite which will be held to settle the definition of marriage if Malcolm Turnbull wins the next election.
Ebeid says SBS always provides balanced coverage.Ebeid says SBS always provides balanced coverage.
It’s what we do.It’s what we do.
Updated at 1.56am BSTUpdated at 1.56am BST
1.05am BST01:051.05am BST01:05
Back over in estimates, Gillian Triggs is being asked about her call overnight for more oversight of immigration detention. In the chair, the attorney general, George Brandis, suggests immigration detention facilities are in Nauru and in PNG, not in Australian territory. Access can be complex, is the Brandis inference, but he notes the Human Rights Commission can certainly act on its own volition. The Liberal senator Ian MacDonald appears to suggest we might need to invade PNG to gain access. Labor senator Jacinta Collins thinks it probably won’t come to that.Back over in estimates, Gillian Triggs is being asked about her call overnight for more oversight of immigration detention. In the chair, the attorney general, George Brandis, suggests immigration detention facilities are in Nauru and in PNG, not in Australian territory. Access can be complex, is the Brandis inference, but he notes the Human Rights Commission can certainly act on its own volition. The Liberal senator Ian MacDonald appears to suggest we might need to invade PNG to gain access. Labor senator Jacinta Collins thinks it probably won’t come to that.
Updated at 1.57am BSTUpdated at 1.57am BST
1.01am BST01:011.01am BST01:01
Steven Munchenberg, the chief executive of the Australian Bankers’ Association, has been interviewed by the ABC in the wake of the Murray response.Steven Munchenberg, the chief executive of the Australian Bankers’ Association, has been interviewed by the ABC in the wake of the Murray response.
Q: Westpac raised interest rates recently because of the capital requirements. Are you expecting other banks to follow?Q: Westpac raised interest rates recently because of the capital requirements. Are you expecting other banks to follow?
Steven Munchenberg:Steven Munchenberg:
It has to be down to individual banks. We certainly don’t discuss that with the banks. The reality is higher capital levels make banks stronger but are also additional costs for banks. They will be passed on in part to shareholders, including our own superannuation funds or to customers. Banks will have to make a judgement about how to balance that.It has to be down to individual banks. We certainly don’t discuss that with the banks. The reality is higher capital levels make banks stronger but are also additional costs for banks. They will be passed on in part to shareholders, including our own superannuation funds or to customers. Banks will have to make a judgement about how to balance that.
Q: This will inevitably lead to increased costs for consumers in some form?Q: This will inevitably lead to increased costs for consumers in some form?
The reality is that a stronger, safer banking system is a more expensive one. We will have to pay for that safer banking system. At the end – I know people sitting around the kitchen table won’t buy this but if we have a strong banking system when the next crisis hits, people won’t lose their jobs and so you can see these additional costs as an investment in a more secure future.The reality is that a stronger, safer banking system is a more expensive one. We will have to pay for that safer banking system. At the end – I know people sitting around the kitchen table won’t buy this but if we have a strong banking system when the next crisis hits, people won’t lose their jobs and so you can see these additional costs as an investment in a more secure future.
Updated at 1.58am BSTUpdated at 1.58am BST
12.52am BST00:5212.52am BST00:52
Airbrushing, a short sequelAirbrushing, a short sequel
Shalailah MedhoraShalailah Medhora
What a difference a few months makes. The attorney general, George Brandis, has told Senate estimates that the government is “relaxed” about the Human Rights Commission on occasion “contradicting” its policies on national security.What a difference a few months makes. The attorney general, George Brandis, has told Senate estimates that the government is “relaxed” about the Human Rights Commission on occasion “contradicting” its policies on national security.
The agency’s role, Brandis said, is “to be engaged in this debate, and on occasion, to be a contradictor of the government. This is a Liberal government so we are not afraid of hearing a variety of points of view,” the attorney general said. “We are very relaxed about that. We welcome the free exchange of ideas.”The agency’s role, Brandis said, is “to be engaged in this debate, and on occasion, to be a contradictor of the government. This is a Liberal government so we are not afraid of hearing a variety of points of view,” the attorney general said. “We are very relaxed about that. We welcome the free exchange of ideas.”
Those comments were contested by Greens senator, Nick McKim. “I’m not sure that’s an accurate reflection of history,” he said.Those comments were contested by Greens senator, Nick McKim. “I’m not sure that’s an accurate reflection of history,” he said.
The language used by the attorney general is in stark contrast to the views put by his Coalition colleagues during an aggressive grilling of the Human Rights Commission president, Gillian Triggs, in Senate estimates earlier this year. Triggs was heavily criticised by government senators of bias due to a report on children in immigration detention.The language used by the attorney general is in stark contrast to the views put by his Coalition colleagues during an aggressive grilling of the Human Rights Commission president, Gillian Triggs, in Senate estimates earlier this year. Triggs was heavily criticised by government senators of bias due to a report on children in immigration detention.
Triggs is currently giving evidence before senate estimates.Triggs is currently giving evidence before senate estimates.
12.50am BST00:5012.50am BST00:50
If this man buys a daggy tracksuit ..If this man buys a daggy tracksuit ..
.. and this one starts whining about what coulda shoulda been.. and this one starts whining about what coulda shoulda been
.. clear out... clear out.
Just saying.Just saying.
12.27am BST00:2712.27am BST00:27
Some quick thoughts – history is written by the victorsSome quick thoughts – history is written by the victors
I don’t think this Murray response is much of a surprise. Looking like you’ll do something on credit card surcharges is appropriately punter friendly. Trying to dilute the power of the industry super funds by promoting more competition is a long-held ideological fixation for the Liberal party.I don’t think this Murray response is much of a surprise. Looking like you’ll do something on credit card surcharges is appropriately punter friendly. Trying to dilute the power of the industry super funds by promoting more competition is a long-held ideological fixation for the Liberal party.
I’m actually interested in a side point to today’s proceedings. We know that Malcolm Turnbull has to preset reset on the concept of economic reform and on the government’s economic/managerial competence given the disruption of the Abbott period. The new prime minister took the opportunity of today to practice some new narrative concepts in this space.I’m actually interested in a side point to today’s proceedings. We know that Malcolm Turnbull has to preset reset on the concept of economic reform and on the government’s economic/managerial competence given the disruption of the Abbott period. The new prime minister took the opportunity of today to practice some new narrative concepts in this space.
In launching the Murray response, Turnbull harked back to the Howard and Costello era – a period that many Australian voters will associated with settled governance and with economic prosperity. The new prime minister drew a line from that period to the present, skipping over the turbulent Abbott period almost entirely.In launching the Murray response, Turnbull harked back to the Howard and Costello era – a period that many Australian voters will associated with settled governance and with economic prosperity. The new prime minister drew a line from that period to the present, skipping over the turbulent Abbott period almost entirely.
While history was being refashioned before our eyes, Turnbull also noted in passing the Howard/Costello prudential regulations had saved Australia from the impact of the global financial crisis. Labor’s period in office, the economic stimulus provided by the then Rudd government during the GFC, a bit like the Abbott period, was omitted from Turnbull’s official record. Pfft to all that.While history was being refashioned before our eyes, Turnbull also noted in passing the Howard/Costello prudential regulations had saved Australia from the impact of the global financial crisis. Labor’s period in office, the economic stimulus provided by the then Rudd government during the GFC, a bit like the Abbott period, was omitted from Turnbull’s official record. Pfft to all that.
Given Turnbull is in the business of drawing lines, I’ll draw another one. Yesterday in Question Time, Turnbull resumed his old arguments against the Rudd/Swan stimulus package during the GFC. Turnbull said yesterday we are in debt now because Labor spent waaayyy too much during the GFC, not (of course) because Tony Abbott couldn’t get the budget strategy back on track during his two years in the prime ministerial suite, failing to manage the complex shifts going on in the global economy and the domestic scene.Given Turnbull is in the business of drawing lines, I’ll draw another one. Yesterday in Question Time, Turnbull resumed his old arguments against the Rudd/Swan stimulus package during the GFC. Turnbull said yesterday we are in debt now because Labor spent waaayyy too much during the GFC, not (of course) because Tony Abbott couldn’t get the budget strategy back on track during his two years in the prime ministerial suite, failing to manage the complex shifts going on in the global economy and the domestic scene.
It’s pretty obvious that Turnbull is working out where to position himself in one of his key jobs: selling the government’s economic story. Today we got some pretty significant clues.It’s pretty obvious that Turnbull is working out where to position himself in one of his key jobs: selling the government’s economic story. Today we got some pretty significant clues.
Let the new record show that Malcolm Turnbull got it right when he opposed Labor’s second stimulus package (remember that?). Let it show that Labor completely botched everything including the management of the financial crisis. Let it show the Turnbull/Morrison ticket is like a reborn John Howard and Peter Costello. Competent, considered. Fond of steady power walking and (in Costello’s case) occasional outbreaks of passive aggression.Let the new record show that Malcolm Turnbull got it right when he opposed Labor’s second stimulus package (remember that?). Let it show that Labor completely botched everything including the management of the financial crisis. Let it show the Turnbull/Morrison ticket is like a reborn John Howard and Peter Costello. Competent, considered. Fond of steady power walking and (in Costello’s case) occasional outbreaks of passive aggression.
Do please forget about Tony Abbott and Joe Hockey.Do please forget about Tony Abbott and Joe Hockey.
While you are at it, please forget Labor’s strongest claim to economic credibility – the argument that policy quick action by Kevin Rudd and Wayne Swan kept Australia out of recession.While you are at it, please forget Labor’s strongest claim to economic credibility – the argument that policy quick action by Kevin Rudd and Wayne Swan kept Australia out of recession.
So yesterday, all that.So yesterday, all that.
11.58pm BST23:5811.58pm BST23:58
I gather from Daniel Hurst that the government response to Murray did not reference negative gearing (which he raised as a problem), or super tax concessions. The latter is off to the tax review.I gather from Daniel Hurst that the government response to Murray did not reference negative gearing (which he raised as a problem), or super tax concessions. The latter is off to the tax review.
Daniel Hurst’s news wrap can be found here. I’ll come back with some analytical thoughts in a second.Daniel Hurst’s news wrap can be found here. I’ll come back with some analytical thoughts in a second.
11.44pm BST23:4411.44pm BST23:44
Well, hello Kelly.Well, hello Kelly.
Sorry, but you have to laugh.Sorry, but you have to laugh.
11.39pm BST23:3911.39pm BST23:39
Q: On the default super funds, what’s the case for opening it up to more competition? Is it the performance of the default funds at the moment, the fees they charge?Q: On the default super funds, what’s the case for opening it up to more competition? Is it the performance of the default funds at the moment, the fees they charge?
Scott Morrison:Scott Morrison:
It’s simply about choice, and it’s their money. The Murray inquiry has made recommendations along these lines which says that if someone is working in a particular workplace, they should decide where their super goes. I mean that’s a pretty important principle. And more importantly, they shouldn’t be stopped, prevented as they currently are, under various agreements and awards from having their own money going to the fund where they want it to go to.It’s simply about choice, and it’s their money. The Murray inquiry has made recommendations along these lines which says that if someone is working in a particular workplace, they should decide where their super goes. I mean that’s a pretty important principle. And more importantly, they shouldn’t be stopped, prevented as they currently are, under various agreements and awards from having their own money going to the fund where they want it to go to.
11.36pm BST23:3611.36pm BST23:36
Turnbull needs to zip to the Coalition party room meeting but takes another question on the credit card surcharges. In terms of timing, the prime minister says the new system will be phased in by July next year.Turnbull needs to zip to the Coalition party room meeting but takes another question on the credit card surcharges. In terms of timing, the prime minister says the new system will be phased in by July next year.
Q: Are merchants gouging their customers with surcharges?Q: Are merchants gouging their customers with surcharges?
Malcolm Turnbull:Malcolm Turnbull:
The important point is this, businesses are free to charge their customers what they like in a competitive, you know, a competitive market. There’s no law that says you’ve got to charge so much for a hotel room or an airline flight, whatever. But if you go out there and you say there is a 2 or 3% surcharge for using a credit card, for example, that carries with it, I think we would all agree, a very clear representation, which I don’t think can be disclaimed, a very clear representation that the merchant is recovering the costs of you, the customer, using a card as opposed to paying in cash.The important point is this, businesses are free to charge their customers what they like in a competitive, you know, a competitive market. There’s no law that says you’ve got to charge so much for a hotel room or an airline flight, whatever. But if you go out there and you say there is a 2 or 3% surcharge for using a credit card, for example, that carries with it, I think we would all agree, a very clear representation, which I don’t think can be disclaimed, a very clear representation that the merchant is recovering the costs of you, the customer, using a card as opposed to paying in cash.
And now, the fact is that we all know, it’s very widely known, that in some cases, in many cases, these surcharges are well in excess of the real cost and so it is – this is just a matter of ensuring that the representation that merchants make is by virtue of regulation an accurate one.And now, the fact is that we all know, it’s very widely known, that in some cases, in many cases, these surcharges are well in excess of the real cost and so it is – this is just a matter of ensuring that the representation that merchants make is by virtue of regulation an accurate one.
The treasurer keeps it simpler. This is a fair dinkum test, Morrison says.The treasurer keeps it simpler. This is a fair dinkum test, Morrison says.
11.30pm BST23:3011.30pm BST23:30
First question. Will banks now raise their interest rates? (This is because of the new capital ratios. The banks have already flagged they will have to pass on the costs of ensuring capital adequacy in the new regime.)First question. Will banks now raise their interest rates? (This is because of the new capital ratios. The banks have already flagged they will have to pass on the costs of ensuring capital adequacy in the new regime.)
Malcolm Turnbull:Malcolm Turnbull:
Well, I don’t believe so. The treasurer had some remarks about Westpac’s decision last week, critical of that. I think many people thought that was not necessary but look, you know, we’re running the government, we’re not – we’ll express some views from time to time about bank’s movements on interest rates but it is ultimately a matter for them and of course for the market.Well, I don’t believe so. The treasurer had some remarks about Westpac’s decision last week, critical of that. I think many people thought that was not necessary but look, you know, we’re running the government, we’re not – we’ll express some views from time to time about bank’s movements on interest rates but it is ultimately a matter for them and of course for the market.
11.25pm BST23:2511.25pm BST23:25
Assistant treasurer Kelly O’Dwyer.Assistant treasurer Kelly O’Dwyer.
I’d like to draw out just a couple (of recommendations) that I think will be of particular interest to those of you here. We obviously agree with the inquiry that superannuation needs to be competitive, it needs to be efficient and overall it needs to be transparent.I’d like to draw out just a couple (of recommendations) that I think will be of particular interest to those of you here. We obviously agree with the inquiry that superannuation needs to be competitive, it needs to be efficient and overall it needs to be transparent.
We need to be able to deliver the best possible outcomes for those people who are contributing to their retirement at their retirement and having an efficient, competitive and transparent system will do just that.We need to be able to deliver the best possible outcomes for those people who are contributing to their retirement at their retirement and having an efficient, competitive and transparent system will do just that.
We will immediately task the Productivity Commission to develop criteria to assess the competitiveness and the efficiency within the superannuation system. We will also immediately task the Productivity Commission to develop alternative models allocating default fund members to products.We will immediately task the Productivity Commission to develop criteria to assess the competitiveness and the efficiency within the superannuation system. We will also immediately task the Productivity Commission to develop alternative models allocating default fund members to products.
In time, the Productivity Commission will assess the efficiency and competition of the superannuation system against this criteria and the government will continue to explore measures around efficiency and competition in the accumulation phase of the superannuation system.In time, the Productivity Commission will assess the efficiency and competition of the superannuation system against this criteria and the government will continue to explore measures around efficiency and competition in the accumulation phase of the superannuation system.
11.20pm BST23:2011.20pm BST23:20
Treasurer, Scott Morrison.Treasurer, Scott Morrison.
In terms of the financial system itself, it makes it stronger by embedding deeper protections within the system, whether it’s on capital adequacy, improved governance and standards right across the system and empowering our regulators to be able to enforce the protections that are in that system – protect consumers and Australians and our economy at the end of the day.In terms of the financial system itself, it makes it stronger by embedding deeper protections within the system, whether it’s on capital adequacy, improved governance and standards right across the system and empowering our regulators to be able to enforce the protections that are in that system – protect consumers and Australians and our economy at the end of the day.
It does provide Australians with greater choice and greater control over their own money, whether it’s their superannuation or anything else. It’s their money and they need to be in the driver’s seat when it comes to their money and our response to the inquiry today puts Australians in the driver’s seat of their own money and no-one else and that’s as it should be.It does provide Australians with greater choice and greater control over their own money, whether it’s their superannuation or anything else. It’s their money and they need to be in the driver’s seat when it comes to their money and our response to the inquiry today puts Australians in the driver’s seat of their own money and no-one else and that’s as it should be.
It does end the closed shop when it comes to mandatory superannuation contributions and how they are directed off into funds, and it will give Australians greater choice about where they invest their own money for their own retirement.It does end the closed shop when it comes to mandatory superannuation contributions and how they are directed off into funds, and it will give Australians greater choice about where they invest their own money for their own retirement.
11.16pm BST23:1611.16pm BST23:16
Malcolm Turnbull on the Murray reviewMalcolm Turnbull on the Murray review
The prime minister opens his press conference in narrative mode – the changes announced today are part of a continuous thread of Liberal National Party governments delivering prudent regulation of the financial system.The prime minister opens his press conference in narrative mode – the changes announced today are part of a continuous thread of Liberal National Party governments delivering prudent regulation of the financial system.
He thanks Joe Hockey and Josh Frydenberg for their preliminary work, but he notes that a line has been drawn.He thanks Joe Hockey and Josh Frydenberg for their preliminary work, but he notes that a line has been drawn.
This response is a response of the Turnbull government to this inquiry.This response is a response of the Turnbull government to this inquiry.
11.12pm BST23:1211.12pm BST23:12
Cutting to the chase. Consumers will like the credit card surcharges change – industry super funds will hate the superannuation changes.Cutting to the chase. Consumers will like the credit card surcharges change – industry super funds will hate the superannuation changes.
Here comes the prime minister.Here comes the prime minister.
11.07pm BST23:0711.07pm BST23:07
Murray response: first takeMurray response: first take
Daniel HurstDaniel Hurst
The Turnbull government has vowed to crack down on excessive surcharges for credit card transactions and will also move to enshrine the objective of the superannuation system in legislation.The Turnbull government has vowed to crack down on excessive surcharges for credit card transactions and will also move to enshrine the objective of the superannuation system in legislation.
The government is also planning to launch a Productivity Commission review into “the efficiency and competitiveness” of the super system, with an eye to changing the existing process for allocating default fund members to products.The government is also planning to launch a Productivity Commission review into “the efficiency and competitiveness” of the super system, with an eye to changing the existing process for allocating default fund members to products.
The measures are part of the government’s response to the financial system inquiry, which also suggested action to increase the capital held by banks so that they were “unquestionably strong” and resilient during times of crisis.The measures are part of the government’s response to the financial system inquiry, which also suggested action to increase the capital held by banks so that they were “unquestionably strong” and resilient during times of crisis.
The government announced on Tuesday that it would support most of the 44 recommendations made by the review team led by the former Commonwealth Bank chief David Murray.The government announced on Tuesday that it would support most of the 44 recommendations made by the review team led by the former Commonwealth Bank chief David Murray.
The Australian Prudential Regulatory Authority is leading the process of increasing mortgage risk weights for the big banks and ensuring they have stronger capital ratios - a process that has already been cited by Westpac as a justification for its decision to increase mortgage interest rates.The Australian Prudential Regulatory Authority is leading the process of increasing mortgage risk weights for the big banks and ensuring they have stronger capital ratios - a process that has already been cited by Westpac as a justification for its decision to increase mortgage interest rates.
The government has agreed to take action to improve fee and surcharging arrangements for credit card transactions, which could reduce the costs faced by consumers when they buy products at shops and restaurants.The government has agreed to take action to improve fee and surcharging arrangements for credit card transactions, which could reduce the costs faced by consumers when they buy products at shops and restaurants.
“We will phase in a legislated ban on surcharges that exceed the reasonable costs faced by merchants in accepting card,” the government said.“We will phase in a legislated ban on surcharges that exceed the reasonable costs faced by merchants in accepting card,” the government said.
“We will also make the ACCC responsible for enforcing the ban on excessive surcharging.”“We will also make the ACCC responsible for enforcing the ban on excessive surcharging.”
The government is yet to define what it would consider to be unreasonably high surcharges.The government is yet to define what it would consider to be unreasonably high surcharges.
Enshrining the objective of the super system in legislation would “serve as a guide to policy makers, regulators, industry and the community about superannuation’s fundamental purpose”.Enshrining the objective of the super system in legislation would “serve as a guide to policy makers, regulators, industry and the community about superannuation’s fundamental purpose”.
In a sign the government might be positioning itself to rein in super concessions for high income earners, the document said the legislated objective would “provide a framework for important discussions Australia needs to have about fairness, adequacy and dignity in the superannuation system”.In a sign the government might be positioning itself to rein in super concessions for high income earners, the document said the legislated objective would “provide a framework for important discussions Australia needs to have about fairness, adequacy and dignity in the superannuation system”.
Updated at 11.49pm BSTUpdated at 11.49pm BST
11.03pm BST23:0311.03pm BST23:03
The embargo on the Murray recommendations has just been lifted. If you want to read the full material you can find it here.The embargo on the Murray recommendations has just been lifted. If you want to read the full material you can find it here.
11.01pm BST23:0111.01pm BST23:01
Investigative reporter Pam Williams has produced a long piece in The Australian today about Malcolm Turnbull taking the leadership of the Liberal party from Tony Abbott. Doubtless there will be choice anecdotes but I’ve only had time to skim it thus far. Readers can find it here.Investigative reporter Pam Williams has produced a long piece in The Australian today about Malcolm Turnbull taking the leadership of the Liberal party from Tony Abbott. Doubtless there will be choice anecdotes but I’ve only had time to skim it thus far. Readers can find it here.
A prime ministerial press conference on the Murray report is scheduled for 9.15am. Estimates hearings will also be back underway shortly, I’ll tune in to the various hearings during the day as time permits.A prime ministerial press conference on the Murray report is scheduled for 9.15am. Estimates hearings will also be back underway shortly, I’ll tune in to the various hearings during the day as time permits.
News wire service AAP also tells me two Labor MPs will today seek the backing of caucus colleagues to end support for offshore detention of asylum seekers. West Australian MP Melissa Parke and NSW MP Jill Hall believe the detention program is a waste of money and could be likened to “torture”. The pair will seek a caucus vote on a motion calling for an end to indefinite detention.News wire service AAP also tells me two Labor MPs will today seek the backing of caucus colleagues to end support for offshore detention of asylum seekers. West Australian MP Melissa Parke and NSW MP Jill Hall believe the detention program is a waste of money and could be likened to “torture”. The pair will seek a caucus vote on a motion calling for an end to indefinite detention.
Party room meetings will get underway this morning, with House of Representatives sitting at noon.Party room meetings will get underway this morning, with House of Representatives sitting at noon.
10.30pm BST22:3010.30pm BST22:30
Fellow politics tragics will know an election is underway in Canada that might see the end of the Harper government. Naturally we are covering that event live, and you can check in here. The latest blog summary notes with several hours yet until polls close, the race is still very much a close call.Fellow politics tragics will know an election is underway in Canada that might see the end of the Harper government. Naturally we are covering that event live, and you can check in here. The latest blog summary notes with several hours yet until polls close, the race is still very much a close call.
While still in the other hemisphere, we can also note former prime minister Julia Gillard has appeared in a campaign endorsement for the Democratic presidential aspirant, Hillary Clinton.While still in the other hemisphere, we can also note former prime minister Julia Gillard has appeared in a campaign endorsement for the Democratic presidential aspirant, Hillary Clinton.
Hillary has what it takes to lead America. Watch the new video on her accomplishments as Secretary of State: https://t.co/NHCzrdNskTHillary has what it takes to lead America. Watch the new video on her accomplishments as Secretary of State: https://t.co/NHCzrdNskT
Julia Gillard:Julia Gillard:
Hillary Clinton understood in her heart how important it was for girls to get an opportunity, but she also understood in her head that if we want to build peaceful, economically prosperous nations, then we have to educate girls. She was determined to see that women take their place as economic partners in their community, and take their place as political leaders in their community.Hillary Clinton understood in her heart how important it was for girls to get an opportunity, but she also understood in her head that if we want to build peaceful, economically prosperous nations, then we have to educate girls. She was determined to see that women take their place as economic partners in their community, and take their place as political leaders in their community.
(Who runs the world? Girls girls. Who runs the world ..)(Who runs the world? Girls girls. Who runs the world ..)
Updated at 10.51pm BSTUpdated at 10.51pm BST
10.23pm BST22:2310.23pm BST22:23
To Four Corners before we get run down by the Murray inquiry. The only thing you can say about last night’s program is .. extraordinary television .. but you had to have the stomach to inhabit a very, very strange universe.To Four Corners before we get run down by the Murray inquiry. The only thing you can say about last night’s program is .. extraordinary television .. but you had to have the stomach to inhabit a very, very strange universe.
Monday night’s program was in essence a fly-on-the-wall documentary about the lives of the former Health Services Union official Kathy Jackson and her husband Michael Lawler. Lawler (an appointee of Tony Abbott when he was workplace minister in the Howard government) is vice-president of the Fair Work Commission.Monday night’s program was in essence a fly-on-the-wall documentary about the lives of the former Health Services Union official Kathy Jackson and her husband Michael Lawler. Lawler (an appointee of Tony Abbott when he was workplace minister in the Howard government) is vice-president of the Fair Work Commission.
The pair supplied Four Corners with a wealth of new angles in a story that was already an airport novel saga – covert recording of phone calls, an explicit concession from Lawler that Jackson may have committed criminal offences, home videos recording trips taken at HSU expense. It was a complete car crash, and their too obvious consent to document their own car crash in minute detail (including supplying re-enactments of choice moments) is impossible to fathom. ABC reporter Caro Meldrum-Hanna managed to assume an heroic deadpan expression throughout the quite mad encounters depicted in her report, which underscored the gap between reality and the world the two protagonists have created for themselves and each other.The pair supplied Four Corners with a wealth of new angles in a story that was already an airport novel saga – covert recording of phone calls, an explicit concession from Lawler that Jackson may have committed criminal offences, home videos recording trips taken at HSU expense. It was a complete car crash, and their too obvious consent to document their own car crash in minute detail (including supplying re-enactments of choice moments) is impossible to fathom. ABC reporter Caro Meldrum-Hanna managed to assume an heroic deadpan expression throughout the quite mad encounters depicted in her report, which underscored the gap between reality and the world the two protagonists have created for themselves and each other.
Ahead of the program going to air, the employment minister Michaelia Cash confirmed that former federal court judge Peter Heerey will conduct an independent review.Ahead of the program going to air, the employment minister Michaelia Cash confirmed that former federal court judge Peter Heerey will conduct an independent review.
Michaelia Cash:Michaelia Cash:
It is essential that public confidence is maintained in the institution of the Fair Work Commission. I will not be commenting on the specific complaints before the independent investigator has had an opportunity to report back to me on this matter.It is essential that public confidence is maintained in the institution of the Fair Work Commission. I will not be commenting on the specific complaints before the independent investigator has had an opportunity to report back to me on this matter.
Updated at 10.39pm BSTUpdated at 10.39pm BST
9.57pm BST21:579.57pm BST21:57
Top of the morningTop of the morning
Hello good people and welcome to Tuesday. As we go live this morning a number of my colleagues are locked up downstairs in a briefing about the Murray inquiry.Hello good people and welcome to Tuesday. As we go live this morning a number of my colleagues are locked up downstairs in a briefing about the Murray inquiry.
The government intends to respond today to the recommendations delivered last year by former banker and Future Fund supremo, David Murray. Murray was tasked by Tony Abbott and Joe Hockey to look at Australia’s banking sector and advise the government how to make improvements to strengthen financial resilience and to boost competition.The government intends to respond today to the recommendations delivered last year by former banker and Future Fund supremo, David Murray. Murray was tasked by Tony Abbott and Joe Hockey to look at Australia’s banking sector and advise the government how to make improvements to strengthen financial resilience and to boost competition.
He recommended the banks increase their current capital ratios to ensure they were in a position to absorb future financial shocks – a move the banks say will increase costs to shareholders or customers. In addition to recommendations about better regulation of financial advisers, and lowering bank interchange fees, Murray also recommended a number of tax reform measures, criticising generous housing and superannuation concessions. It will be interesting to see how the government responds.He recommended the banks increase their current capital ratios to ensure they were in a position to absorb future financial shocks – a move the banks say will increase costs to shareholders or customers. In addition to recommendations about better regulation of financial advisers, and lowering bank interchange fees, Murray also recommended a number of tax reform measures, criticising generous housing and superannuation concessions. It will be interesting to see how the government responds.
My colleague Daniel Hurst is in the briefing and we expect to have particulars shortly after 9am.My colleague Daniel Hurst is in the briefing and we expect to have particulars shortly after 9am.
To non-Murray matters, the news cycle this morning is following through the major issues from yesterday. After a day in estimates going over the details of Tony Abbott’s (alleged) boozy farewell in the cabinet suite which resulted in the destruction of a bespoke marble topped table (yes, the Incredible Hulk is rumoured to have made an appearance) – the former prime minister has now agreed to pick up the tab.To non-Murray matters, the news cycle this morning is following through the major issues from yesterday. After a day in estimates going over the details of Tony Abbott’s (alleged) boozy farewell in the cabinet suite which resulted in the destruction of a bespoke marble topped table (yes, the Incredible Hulk is rumoured to have made an appearance) – the former prime minister has now agreed to pick up the tab.
In a statement issued last night, Abbott said:In a statement issued last night, Abbott said:
On the night of the leadership change I hosted drinks in the cabinet anteroom for staff and colleagues. During this event a coffee table was damaged. I have asked my office to have the Department of Parliamentary Services invoice me for the value of the table. It was my event so I take responsibility for it.On the night of the leadership change I hosted drinks in the cabinet anteroom for staff and colleagues. During this event a coffee table was damaged. I have asked my office to have the Department of Parliamentary Services invoice me for the value of the table. It was my event so I take responsibility for it.
Abbott has not, thus far at least, indicated that he’ll pick up the tab for the booze. Officials confirmed last night tired and emotional guests were served beverages from the official alcohol stash.Abbott has not, thus far at least, indicated that he’ll pick up the tab for the booze. Officials confirmed last night tired and emotional guests were served beverages from the official alcohol stash.
I’ll get to Four Corners in the next post (I don’t know about you but I’m still recovering) but another significant thing to bookmark is a call by the Human Rights Commission president Gillian Triggs for greater oversight of immigration detention centres.I’ll get to Four Corners in the next post (I don’t know about you but I’m still recovering) but another significant thing to bookmark is a call by the Human Rights Commission president Gillian Triggs for greater oversight of immigration detention centres.
In an interview last night on the Lateline program, Triggs has criticised the treatment of the Somali refugee who was allegedly raped and impregnated on Nauru. The woman was then brought to Australia for a termination before being dispatched quickly back to Nauru without the termination. Refugee advocates and immigration minister Peter Dutton have been jousting over the specific details of the case for several days.In an interview last night on the Lateline program, Triggs has criticised the treatment of the Somali refugee who was allegedly raped and impregnated on Nauru. The woman was then brought to Australia for a termination before being dispatched quickly back to Nauru without the termination. Refugee advocates and immigration minister Peter Dutton have been jousting over the specific details of the case for several days.
Gillian Triggs:Gillian Triggs:
A young woman, 23 years old, obviously very distressed from the facts to the extent that one can glean them, a woman who really needs counselling and a safe environment. It’s extraordinary that she was expected to reach a decision in such a short space of time and when the answer wasn’t given immediately she’s literally air lifted back to Nauru.A young woman, 23 years old, obviously very distressed from the facts to the extent that one can glean them, a woman who really needs counselling and a safe environment. It’s extraordinary that she was expected to reach a decision in such a short space of time and when the answer wasn’t given immediately she’s literally air lifted back to Nauru.
It makes a much broader point that the lack of transparency, the secrecy with which we conduct these detention centres and what goes on in them and of course in our own detention centres in Australia, that is really a core problem and why we really need some form of independent monitoring.It makes a much broader point that the lack of transparency, the secrecy with which we conduct these detention centres and what goes on in them and of course in our own detention centres in Australia, that is really a core problem and why we really need some form of independent monitoring.
That we do. We really, really do. Perhaps the government could use its renewed interest in human rights (we heard something of this from the foreign minister and the attorney-general yesterday) to deliver on that modest imperative. There’s another terrible story around this morning: an Afghan asylum seeker living in Australia on a bridging visa is feared dead after he self-immolated during a video call with refugee advocates.That we do. We really, really do. Perhaps the government could use its renewed interest in human rights (we heard something of this from the foreign minister and the attorney-general yesterday) to deliver on that modest imperative. There’s another terrible story around this morning: an Afghan asylum seeker living in Australia on a bridging visa is feared dead after he self-immolated during a video call with refugee advocates.
It’s time to open today’s Politics Live conversation. Consider the thread at your disposal. I’m also at your disposal on the Twits. You can find me there @murpharoo and Jerry Seinfeld, AKA Mikearoo, is at @mpbowersIt’s time to open today’s Politics Live conversation. Consider the thread at your disposal. I’m also at your disposal on the Twits. You can find me there @murpharoo and Jerry Seinfeld, AKA Mikearoo, is at @mpbowers
Fire up the office Nespresso. Get a Monte Carlo, you might need one. Here comes Tuesday.Fire up the office Nespresso. Get a Monte Carlo, you might need one. Here comes Tuesday.
Updated at 9.59pm BSTUpdated at 9.59pm BST